Toys ‘R’ Us Store Closures Could Present Opportunity for Other Retailers
Following the news that Toys ‘R’ Us will be closing its stores nationwide, The Denver Business Journal spoke to Matt Writt, JLL’s vice president of retail, to gain some insight into what’s next for stores left empty by the closures.
According to Writt, retailers in the fitness, entertainment and grocery sectors are most likely to take advantage of the soon to be vacant space.
The closings will leave 412,301 square feet of vacant retail space in Colorado, most of which will be in the Denver metro area.
While there is no way to predict how fast these stores will be absorbed, a likely indicator are each store’s sales performance, Writt said. Some sites might get absorbed immediately, and others might take years.
The stores in Colorado that will close are:
- Aurora, at 1150 S. Ironton (4982 square feet).
- Fort Collins, at 4250 Corbett Dr. (64,991 gross square feet).
- Littleton, at 5142 S. Wadsworth Blvd. (42,296 gross square feet).
- Westminster, at 9330 Sheridan Blvd. (This location is a Babies ‘R’ Us) (42,900 gross square feet).
- Westminster, at 5650 West 88th Ave. (53,734 gross square feet).
- Highlands Ranch, at 7155 Business Center Dr. (This location is a Babies ‘R’ Us) (37,000 gross square feet).
- Colorado Springs, at 3555 Citadel Dr S. (This location is a Babies ‘R’ Us) (29,000 gross square feet).
- Colorado Springs, at 3730 N. Citadel Dr. (46,415 gross square feet).
- Englewood, at 9505 E. County Line Rd. (44,300 gross square feet).
- Thornton, at 16511 N. Washington St. (46,683 gross square feet).